BOC Hong Kong (2388 HK) has set up a medium term note programme under which it may offer and issue notes in series of principal amount of up to US$15,000,000,000 to professional and institutional investors. The notes may be denominated in any currency. (SingTao Daily B4)
China Agri-Products Exchange (149 HK) announces that it has received 118 valid acceptances and applications in respect of 939,372,910 rights shares in aggregate, roughly 39.44pc of the total number of rights shares available under the rights issue. (Hong Kong Economic Journal 21)
C.P. Lotus (121 HK) sells its supermarket business at B2, 245 Madang Lu, Huangpu District, Shanghai to CPG, its ultimate controlling shareholder, at a consideration not more than RMB22.0 million. (Hong Kong Economic Journal 21)
Esprit Holdings (330 HK) shares plunged 10.1pc on its first profit warning announcement since listing yesterday. Goldman Sachs slashes its price target for the stock by 60pc to HK$20. (Hong Kong Economic Times A9)
Great Wall Motor (2333 HK) will proceed with its proposed A share issue, which will comprise an allotment and issue of not more than 304,243,000 A shares. A road show and preliminary price consultation among qualified institutions will be conducted in China from 5-14 Sep to determine the offer price range. (Hong Kong Economic Times A9)
Mr. Chun Chi Wai, Chairman (773 HK) and CEO of China Metal Recycling Ltd., noted that the company will expand businesses in middle and western areas in China by establishing its first over 500,000-tonnes-capacity production base in Sichuan Province or Chong Qing this year and the second in the next to meet the demand of inland steel plants. (Hong Kong Economic Times A10)
China’s maritime (883 HK) regulator announced through its website last Friday the shutdown of the Penglai 19-3 field, which is jointly owned by ConocoPhillips and CNOOC. The CNOOC has started reducing about 40,000 barrels per day from around 22,000 barrels per day in its net production from 13 July, 2011. (Hong Kong Economic Times A10)
Intime Department Store Group (1833 HK) saw its first-half net profit up 60 percent and its same store sales up 28.1 percent. The company expects the same store sales in the second half will keep a stable growth to meet its whole-year target of 20 percent in same store sales. (Hong Kong Economic Journal P5)
Tibet 5100 Water Resources Holdings Ltd. (1115 HK) expects the second-half of 2011 a peak season for its water resources sales. With new consumers joining in, its whole-year profit is expected to meet the target in 2011. (Sing Tao Daily B14)
Mainland China (819 HK) plans to put forward the application of low-speed and pure electric vehicles in pilot cities in the second half of this year. Mr. Zhang Tianren, Chairman of Tianneng Power International Ltd., noted the company expects its capacity of lead-acid electric vehicles batteries to expand 4 times to record the worth of over RMB500 million before the first quarter in next year. The company has been tapping potential business opportunities in the market. (Hong Kong Economic Times A10)
Sources: Sing Tao Finance, Hong Kong Economic Journal, Hong Kong Economic Times, The Standard
